Palm City Housing Market Report December 2024•Martin County, Florida

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Housing Prices in Palm City, FL

How much do homes in Palm City, FL cost?

Housing Market Conditions

Is Palm City, FL a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Palm City is a Buyer's Market

Difference Since December 2023

At the same time last year, Palm City was a Neutral Market.

Insight

Palm City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$676,533$289/SqFt
+$26,533
+4.1%

Based on all homes sold in the last 12 months

Insight

Homes in Palm City have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Palm City was $676,533 in December 2024, up 4.1% from last year, and the median price per square foot was $289.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Port Salerno-Hobe Sound
+6.1%
Indiantown
+4.3%
Palm City
+4.1%
Port Saint Lucie
+2.7%
Stuart
+2.6%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$185K$158K
-14.6%
2$355K$309.5K
-12.8%
3$615K$572.5K
-6.9%
4$960K$935K
-2.6%
5$1.0M$1.1M
+10.2%

Summary: Palm City housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -14.6%. The home price for 2 bedroom homes decreased by -12.8%. The home price for 3 bedroom homes decreased by -6.9%. The home price for 4 bedroom homes decreased by -2.6%. The home price for 5 bedroom homes increased by +10.2%.

Housing supply in Palm City, FL

How many homes are available in Palm City, FL?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
242Last MonthDec 2024
2272 months agoNov 2024
+6.6 %
Change MoMNov – Dec

Summary: The Palm City real estate market had 242 homes for sale in Dec 2024, a 6.6 % increase compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
32Last MonthDec 2024
212 months agoNov 2024
+52.4 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
26266
+6.5%
390102
+13.3%
44950
+2.0%
52624
-7.7%

Summary: Palm City housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes increased by +6.5%. The inventory for 3 bedroom homes increased by +13.3%. The inventory for 4 bedroom homes increased by +2.0%. The inventory for 5 bedroom homes decreased by -7.7%.

Asking Price vs. Sold Price

How much do homes in Palm City, FL cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price1 Home

At Asking Price7 Homes

Under Asking Price24 Homes

Insight

If you're buying a home in Palm City, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Palm City in December 2024, up by 52.4% month-over-month. Of the 32 sold homes, 75% were sold under asking, 22% were sold at asking, and and 3% were sold over asking.

Days on Market for Palm City, FL

How long does it take to sell a home in Palm City, FL?

Breakdown of Home Sale Times

Under 30 Days12 Homes

30 – 90 Days9 Homes

Over 90 Days11 Homes

Insight

Many homes in Palm City are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 32 homes were sold in Palm City; 38% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
63 DaysThis YearDec 2024
58 Days1 year agoDec 2023
+8.8 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Palm City had an average listing age of 63 days in Dec 2024, up by 8.8% compared to the previous year.

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Newest Listings in Palm City, FL

What homes are available in Palm City, FL?

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Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Copyright © 2025 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by other brokerage firms are marked with the listing broker's name and detailed information about such listings. Data provided is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers personal, noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/29/2025, 3:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Copyright © 2025 Multiple Listing Service of South Brevard, Inc. and Space Coast Association of REALTORS, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity™ Program of Space Coast Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Deemed Reliable But Not Guaranteed. Real estate listings held by brokerage firms other this broker are marked with the Broker Reciprocity™ logo or the Broker Reciprocity™ thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.
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Last updated on: 1/29/2025, 3:20:59 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.